英文目录

Finance Minister Lou Jiwei addresses the 5th National Assembly of Members of China Association of CFOs

Finance Minister Lou puts forward that China Association of CFOs is a national professional body of self-regulation. It acts as the communication bridge among CFOs, government and society. CFOs are key members of leadership in their entities, who lead to strengthen the financial management, play a high role in the construction of management accounting system, and have management accountants as their right hand men. 14 million accounting personnel are the solid foundation for CFOs to fulfill their duties. The echelon formation of accounting personnel throughout the country has built up a firm pyramid that provide fundamental service and strong professional support to the nation’s economy development. Mr. Lou expresses high expectation on the Association’s work including: focusing on the comprehensive deepening of reform and strengthening the profession; focusing on the development of management accounting and innovating professional service; and focusing on the enhancement of international influence and deepening international exchanges.

Secretary General Chen Yugui urges the profession to stick to the “four key points” and make contributions to the full deepening of reform

Dr. Chen Yugui, Secretary General of CICPA, points out that 2014 is the starting year of the full deepening of reform. The CPA profession shall focus on the following areas: (1) continue to strengthen the profession’s self-consciousness of serving national construction; (2) launch the theme activity of “Year of Talent Building” and further deepen the strategy of talent cultivation; (3) strengthen integrity building and promote the practice of core socialist values in the profession; (4) promote the construction of professional service market of CPAs and achieve virtuous interaction between the profession and market; (5) deepen international exchanges and cooperation and enhance the international competiveness of China’s economy; (6) optimize the top-level design and bring the strategy of informatization to a new high level; (7) improve the service and management ability of CPA institutes.

The impact of financial resource allocation of company groups on the dynamic adjustment of enterprise capital structure —— A study based on internal capital market of group enterprises

By using a sample of listed company groups from 2003 to 2012, this article analyzes the cash distribution status in the listed subsidiary companies of group headquarters and looks into the impact of financial resource allocation of company groups on the dynamic adjustment of capital structure of listed companies. It shows that the higher cash ratio that the listed subsidiary companies get from their group headquarters, the slower their capital structure adjustment is. On the contrary, the lower cash ratio that they get from group headquarters, the faster their capital structure adjustment is. The empirical evidences presented by this article will provide new thinking for the improvement of internal capital market of company groups.